Sensex and Nifty falls marginally ahead of RBI interest rate outcome

Hero MotoCorp Wipro Tata Steel and NTPC were among the top losers

Hero MotoCorp Wipro Tata Steel and NTPC were among the top losers

The kickstart of the two-day RBI policy review, at a time when a global rating has cut India's GDP forecast for FY18, will sway the market sentiment on Tuesday.

Investors maintained their cautious stance ahead of RBI policy decision tomorrow.

At 12.30 PM: Sensex was down by over 110 points or 0.34% to 32,759.48 while the wider Nifty was dpwn by over 31 points or 0.31% to 10,096.40.

Market breadth was negative with 1,101 advances against 1,460 declines.

Any gains in domestic equities are also likely to be capped ahead of the Reserve Bank of India's policy meeting on Wednesday.

Data released during market hours revealed that the Nikkei Services purchasing managers' index in November fell to 48.5 points - the lowest since August - from 51.7 the previous month.

The NSE Nifty50 inched up 5.95 points or 0.06 per cent to 10,127.75 points, while the BSE Sensex closed at 32,869.72 points - up 36.78 points or 0.11 per cent.

On the currency front, the rupee strengthened by 9-10 paise to close at 64.37-38 against the United States dollar from its last week's close at 64.47.

Sector-wise, the S&P BSE consumer durables index declined by 131 points, auto index by 130.49 points and metal index by 117.14 points.

Vinod Nair, Head of Research, Geojit Financial Services, said: "After a subdued trade, the market reversed from day's low led by banking stocks".

The Nifty mid-cap index rose by 0.03 per cent, while small-caps fell 0.25 per cent.

On the other hand, Bajaj FinanceBSE 1.71 %, YES BankBSE 1.76 %, Reliance IndustriesBSE 1.11 %, BPCLBSE 0.78 % and IndusInd BankBSE 0.93 % climbed between 1.15 per cent and 2.30 per cent.

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